At HomeTown Insurance & Financial Services, we pride ourselves on being your friendly, knowledgeable neighbors, dedicated to securing the best insurance coverage for you and your family. From bustling Colorado Springs, to the scenic landscapes of Durango, or right here among the mountains in beautiful Pagosa Springs, our independent agents are here to assist with all your insurance needs!
Why Choose HomeTown Insurance?
- Personalized Service: We understand that each client’s needs are unique. Our agents take the time to tailor insurance solutions that fit your specific circumstances. 😊
- Access to Top Carriers: As independent agents, we collaborate with leading insurance companies to find the best policies at competitive rates. This flexibility ensures you receive coverage that truly meets your needs. 🏆
- Statewide Coverage: From the Rocky Mountains to the Eastern Plains, we provide comprehensive insurance solutions across Colorado. No matter where you reside, HomeTown Insurance is here for you. 🗺️
Current Insurance Trends to Consider
The insurance landscape is continually evolving, and staying informed is crucial:
As of December 2024, both auto and home insurance premiums in the United States have continued to rise, albeit at varying rates compared to previous years.
Auto Insurance Trends:
Premium Increases: In 2023, auto insurance premiums experienced significant hikes, with some reports indicating increases of up to 19.2% over the previous year. This surge was the highest since the 1980s, driven by factors such as increased claims, higher repair costs, and a rise in vehicle thefts.
2024 Developments: Throughout 2024, the rate of premium increases has moderated compared to 2023. However, premiums have not decreased significantly. Factors such as inflation, elevated parts costs, and increased litigation have continued to exert upward pressure on auto insurance rates. Wall Street Journal


Home Insurance Trends
Premium Increases: Home insurance premiums have also seen upward trends. In 2023, premiums rose by approximately 12%, influenced by factors like climate change, increased frequency of natural disasters, and higher rebuilding costs. Barron’s
2024 Developments: In 2024, the property and casualty (P&C) insurance industry is projected to see combined ratios drop to 98.5%, indicating improved profitability compared to the 102% ratio reported in 2023. This suggests that while premiums have continued to rise, the rate of increase may be stabilizing as insurers’ financial positions improve. Matic
Contributing Factors
Natural Disasters: The increasing frequency and severity of natural disasters have led to higher claims, impacting both auto and home insurance premiums. For instance, hurricanes and other extreme weather events have caused substantial losses, prompting insurers to adjust rates accordingly. Wall Street Journal
Inflation and Repair Costs: Elevated costs for vehicle parts and home construction materials, partly due to supply chain disruptions, have contributed to higher claim expenses, leading insurers to raise premiums to maintain profitability. Barron’s

How HomeTown Insurance Can Help
Navigating these trends can be challenging, but you don’t have to do it alone. Our agents are well-versed in the latest industry developments, and are committed to finding the most suitable and cost-effective solutions for you. Whether you’re seeking auto insurance in Durango, home insurance in Colorado Springs, or multi-state coverage, we’re here to guide you every step of the way.
Get Started Today!
Ready to experience the HomeTown difference? Contact us today for a personalized consultation and discover how we can protect what matters most to you.
For more insights on current insurance trends, check out these articles:
Insurance Costs Aren’t Going Down Anytime Soon, Allstate’s CEO Says | Barron’s
Sorry, Your Insurance Bill Probably Isn’t Coming Down Much. Here’s Why. | Wall Street Journal
At HomeTown Insurance & Financial Services, we’re more than just agents; we’re your neighbors, committed to safeguarding your future. Let’s build a secure tomorrow, together! Contact HomeTown Insurance today to schedule a free consultation with one of our expert agents! 📞
Call us at +1 (970) 264-4321 or Toll Free: 1-866-333-8342
Or, chat online!